Friends Building Contractors Limited,Ltd - AccountsLtd - Accounts

Friends Building Contractors Limited,Ltd - AccountsLtd - Accounts

FRIENDS BUILDING CONTRACTORS LIMITED - Company Information

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2019-01-01 04947010 2019-12-31 04947010 2019-01-01 2019-12-31 04947010 2018-12-31 04947010 2018-01-01 2018-12-31 04947010 uk-core:WithinOneYear 2018-12-31 04947010 uk-core:WithinOneYear 2019-12-31 04947010 uk-core:AfterOneYear 2018-12-31 04947010 uk-core:AfterOneYear 2019-12-31 04947010 uk-core:ShareCapital 2019-12-31 04947010 uk-core:ShareCapital 2018-12-31 04947010 uk-core:RetainedEarningsAccumulatedLosses 2019-12-31 04947010 uk-core:RetainedEarningsAccumulatedLosses 2018-12-31 04947010 uk-bus:Director1 2019-01-01 2019-12-31 04947010 uk-core:PlantMachinery 2019-01-01 2019-12-31 04947010 uk-core:CommercialMotorVehicles 2019-01-01 2019-12-31 04947010 uk-core:FurnitureFittings 2019-01-01 2019-12-31 04947010 uk-core:FurnitureFittings 2018-12-31 04947010 uk-core:CommercialMotorVehicles 2018-12-31 04947010 uk-core:PlantMachinery 2018-12-31 04947010 uk-core:PlantMachinery 2019-12-31 04947010 uk-core:CommercialMotorVehicles 2019-12-31 04947010 uk-core:FurnitureFittings 2019-12-31 04947010 uk-core:WithinOneYear uk-core:Secured 2019-12-31 04947010 uk-core:WithinOneYear uk-core:Secured 2018-12-31 iso4217:GBP xbrli:pure 04947010 uk-bus:AuditExemptWithAccountantsReport 2019-01-01 2019-12-31 04947010 uk-bus:FRS102 2019-01-01 2019-12-31 04947010 uk-bus:FullAccounts 2019-01-01 2019-12-31 04947010 uk-bus:PrivateLimitedCompanyLtd 2019-01-01 2019-12-31
Friends Building Contractors Limited
Registered Number:04947010
For the year ended 31 December 2019
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2019
Friends Building Contractors Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
04947010
As at 31 December 2019
Friends Building Contractors Limited
Statement of Financial Position
£
£
2018
2019
Notes
Fixed assets
Property, plant and equipment
17,496
23,058
2
17,496
23,058
Current assets
Inventories
53,276
65,375
3
Trade and other receivables
48,630
48,405
4
17,800
Cash and cash equivalents
29,078
142,858
119,706
Trade and other payables: amounts falling due within one
year
(105,152)
(123,580)
5
14,554
19,278
Net current assets
Total assets less current liabilities
36,774
37,612
Trade and other payables: amounts falling due after more
than one year
(13,523)
(6,937)
6
29,837
Net assets
24,089
Capital and reserves
Called up share capital
2
2
Retained earnings
29,835
24,087
29,837
24,089
Shareholders' funds
For the year ended 31 December 2019 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Avtar Jheeta Director
These financial statements were approved and authorised for issue by the Board on 29 December 2020 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 December 2019
Friends Building Contractors Limited
Notes to the Financial Statements
Statutory Information
Friends Building Contractors Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 04947010.
Registered address:
596A Romford Road
Manor Park
London
E12 5AF
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
15% Reducing balance
25% Reducing balance
Motor vehicles
15% Reducing balance
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding.
2 of 4
5
For the year ended 31 December 2019
Friends Building Contractors Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Fixtures and
fittings
Motor vehicles
Plant and
machinery
£
£
£
£
Cost or
valuation
At 01 January 2019
76,381
4,197
59,825
12,359
At 31 December 2019
12,359
59,825
4,197
76,381
Provision for depreciation and impairment
At 01 January 2019
53,323
3,151
38,775
11,397
Charge for year
5,562
156
5,262
144
At 31 December 2019
58,885
3,307
44,037
11,541
At 31 December 2019
Net book value
818
15,788
890
17,496
At 31 December 2018
962
21,050
1,046
23,058
3. Inventories
2018
2019
£
£
Stocks
65,375
53,276
4. Trade and other receivables
2018
2019
£
£
Trade debtors
32,568
44,755
Other debtors
15,837
3,875
48,630
48,405
5. Trade and other payables: amounts falling due within one year
2018
2019
£
£
Bank loans and overdraft (secured)
-
7,336
Trade creditors
50,669
38,059
Taxation and social security
22,604
14,236
Other creditors
50,307
45,521
123,580
105,152
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6
For the year ended 31 December 2019
Friends Building Contractors Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2018
2019
£
£
Bank loans and overdraft (secured)
6,937
13,523
7. Average number of persons employed
During the year the average number of employees was 7 (2018 : 10)
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